March 29, 2023

Dubai Week

Complete Dubai News World


The acquisition in Newcastle, Saudi Arabia, is closer than ever

Several English reports have highlighted the acquisition of United in the new case of the Saudi Public Investment Fund.

According to the British newspaper, The Sun, the acquisition of the Saudi Public Investment Fund in Newcastle is closer than Saudi Arabia lifted its ban on Qatar’s PIN sports channels.

The newspaper added that a decision on the possibility of acquiring the club in Newcastle of the Saudi Public Investment Fund was planned for next January, especially as Saudi Arabia was obliged to eliminate piracy sites for sports channels.

The investment group, which includes Saudi Public Investment Fund, PCB Capital Partners and Robin Brothers, agreed in April 2020 to buy Newcastle for மில்லியன் 300 million from its current owner, Mike Ashley.

However, the acquisition process was subject to a number of hurdles, with the acquisition failure in Newcastle before the investment board announced in August 2020.

He further explained in a statement that the delay in concluding the contract was “because the business agreement between the investment group and the owners of the club is not valid and our investment offer cannot continue”.

For her part, Amanda Stiffley, a financial expert who chairs the investment group, said the withdrawal was “shocking” as the deal would have provided investment in the region in Newcastle, accusing the Premier League of failing the deal.